Weak house prices drag U.S. family wealth : Fed

WASHINGTON (Reuters) - Americans suffered a record decline in wealth between 2007 and 2010 as home values tumbled, according to a Federal Reserve report on Monday that underscored the severity of the recent recession.

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WASHINGTON (Reuters) - Americans suffered a record decline in wealth between 2007 and 2010 as home values tumbled, according to a Federal Reserve report on Monday that underscored the severity of the recent recession. The median family's net worth dropped 38.8 percent during the three-year period, the Fed said in its latest report on changes in U.S. Family Finances, derived from a survey of consumer finances. Fed economists told reporters that this was the biggest drop in net worth since the survey started in 1989. The median net worth, which is the value of assets minus debt, plunged to $77.

WASHINGTON (Reuters) - Americans suffered a record decline in wealth between 2007 and 2010 as home values tumbled, according to a Federal Reserve report on Monday that underscored the severity of the recent recession.

Americans suffered a record decline in wealth between 2007 and 2010 as home values tumbled, according to a Federal Reserve report on Monday that underscored the severity of the recent recession. The median ...

WASHINGTON -- Americans suffered a record decline in wealth between 2007 and 2010 as home values tumbled, according to a Federal Reserve report on Monday that underscored the severity of the recent recession. The median family's net worth dropped 38.

Household wealth in the U.S. climbed in the fourth quarter to the highest level in five years, propelled by a gain in home prices that is helping repair family finances.
Net worth for households and non-profit groups increased by US$1.17 trillion from October through December, or 1.8% from the previous three months, to US$66.1 trillion, the Federal Reserve said Thursday from Washington in its flow of funds report. It was the highest since the fourth quarter of 2007.

Surging stock prices and recovering home values boosted total household net worth 2.6% in the third quarter from the prior three-month period, Fed report says.WASHINGTON — American households have regained almost all of the wealth lost during the Great Recession, thanks to surging stock prices and recovering home values.

The net worth of the median American family fell to $77,300 in 2010, down nearly 40% from 2007 after adjusting for inflation, the Federal Reserve reports.WASHINGTON — The typical American family lost nearly 40% of its wealth from 2007 to 2010 as the Great Recession reduced household net worth to a level not seen since the early 1990s.